Contracts are often required in business-to-business transactions. As an example, contracts are often required during procurement of materials and services. As another example, contracts are often required during the sales process. Conventionally, the computer assisted contract authoring techniques utilize pre-existing contract templates provided in the computer system. These conventional techniques have a drawback that they may not utilize the contract documents that are received from external parties as a basis to author new contracts, because the templates for the external contract documents may not be pre-existing in the user's computer system. However, in practice, it is often required to prepare contracts based upon the contract documents received from the external parties.
Accordingly, there exists a need for new and improved computer based or implemented systems and methods for contract authoring that overcome the disadvantages of the conventional techniques so as to facilitate the efficiency of business functions involving contracts.